What will your credit score be after bankruptcy is discharged?
It depends on what your credit score was before your filed
bankruptcy. If your credit score was low before your filed
bankruptcy, then after your bankruptcy is discharged, if you send a
copy of your Schedules and Discharges records to all three credit
bureaus; Trans Union, Experian and Equifax and ask them to zero out
all the past due balances now that you do not owe them anymore then
your credit score will more than likely be higher than before you
filed. Also, your bankruptcy filing is picked up under the Public
Records section of your credit report, however, after 12 months the
scoring models do not pick up the bankruptcy anymore so it does not
effect your score. It is visible on your report for 10 years after
a chapter 7 and 7 years after a chapter 13, but not in your score.
It is a good idea to open up an account after your bankruptcy
discharges so your scores will continue to go up. If you open a
credit card, just make sure you do not go over 30% of the limit,
and pay it off every month. You can go to
for step
by step instructions on how to handle your credit after a
bankruptcy.
Related Q&A：
Where can you look up bankruptcy records？Well, you can start by checking with the local courthouse in the jurisdiction where the bankruptcy was filed. They usually have public records available for lookup. Another option could be online databases that specialize in legal and financial information. But, oh boy, make sure you're using a reliable and authorized source. Sometimes, you might also be able to find relevant information through government websites or by contacting a bankruptcy attorney who can guide you in the right direction. It might take a bit of digging, but you should be able to track down those records if you keep looking in the right places.
